I held my meeting with Ryan yesterday. As always it was quite informative and I left with a very positive outlook on the future of VATE.
Currently management is extra focused on finalizing the S-1. This will add the credibility required to attract investors to take VATE to the next level, such as; hire key headcounts, guarantee lines of credit to help with inventory, add and improve plant and equipment, as well as marketing resources. It takes 2 years of audits to complete the S-1. Finally all are complete and it is now a waiting game on the SEC to review and approve. Once that is resolved things will truly open up for VATE.
The RTD teas are selling very well and that is where the primary focus of growth is currently. I don't have any insight to numbers but the team seems very upbeat.
As you can tell the outstanding share count hasn't materially changed for sometime. Ryan mentioned that he tightly managing the business and has no desire to issue shares. This is very important to him.
The CBD coffee looks fantastic. He gave me a few bags with the different flavors and I can't wait to try them. We should hear more about that soon.
Although the CO distributor appears to be new and is "small" they have already sold out their first order and have another large order which should be sold out shortly after receipt.
As you can imagine there are many surprise hurdles that must be overcome due to the unique laws of each state relative to CBD. The Elev8 team is overcoming each issue one by one. Their distributors have been instrumental in helping VATE move ahead. As we all know the FDA regulations for CBD in food will open up many avenues for our amazing company.
I am still as enthused as ever about Elev8! They are a real company. Not a BS OTC imaginary company. I believe that Ryan is working his plan and has not wavered once since I have known him. He is making sure he doesn't get ahead of himself and will not put the company or the investors at risk by making rash decisions. He is in it for the long haul. He understands that investors are very impatient but he is not one to do anything outside his plan to appease anyone.
GLTA.
